home loan finance blog
A few years ago I purchased a rechargeable cordless shaver. As the father of seven, Ive come to appreciate the fact that I can “multi-task” on my way to the office every morning. Being a trained engineer, I can do the math and conclude that saving 5-7 minutes every day (versus traditional shaving in front of the mirror at home) yields 30 extra hours per year. That frees me up for watching another of my kids soccer games, playing a good game of racquetball and writing articles.
As life has becomes more complex, Ive discovered a greater appreciation for things that save me time. I suspect that I am not alone in the appreciation for conveniences that allow me to focus on the important things in life.
I remember when my wife Jen and I would hand wash dishes now we run the dishwasher once, or even twice, a day. I used to swing over to the grocery store a few times a week to pick up odds and ends now I complete a major shopping adventure weekly (usually after the kids are in bed). Life changes and Ive come to place a premium on time.
IFS, like many other companies, is constantly reviewing the value proposition we bring to clients and other professional associates in a genuine effort to better serve their needs. My guess is that we can all intellectually agree that there are many tangible benefits- such as documented estate strategy, tax reduction, superior investment returns and cost effective insurance policies-associated with a comprehensive financial strategy.
I believe that the chief benefit of a relationship with a wealth management firm is much broader. In fact, the feedback we continue to receive is that busy professionals, business managers and others (yes, retirees also) is that we return to individuals the most cherished commodity TIME.
Knowing that cash flow is optimized allows your focus to shift to tonights tee-ball game.
Understanding that your team of advisors is collaborating on ways to reduce your tax burden allows your focus to shift to the dance recital on Sunday afternoon. Being well aware that you have an investment review program in place for the companys 401(k) plan and your other portfolio holdings allows your focus to be on reading “The Little Engine that Could” with your daughter or grandson.
Time is precious. It is also fleeting and is the one thing in life that we cannot ever hold again. We are willing to pay for the convenience of the drive-thru, even though preparing coffee or breakfast at home is less expensive, nor do we necessarily make the time to shop for the sales.
The reasons we do what we do is that we place a premium on saving a few minutes here and there. Our lives are packed with responsibility and scurrying back and forth. We welcome a brief reprieve and are thankful for the times when a friend or colleague offers a hand.
While days are short, we still find the time to eat. We still find the time to sleep. We fulfill our work obligations. So what is lost in the hustle and bustle of life? The first casualty, if we are willing to admit it, is that we dont PLAN as we know we should.
You may have heard the statistic that an overwhelming percentage of the population spends more time planning their vacation than their lives. Fortunately, there is an answer, and many of you have wisely made the decision to place your trust in a firm that will ensure that you are able to spend quality time with family, read the paper, take a walk and smell the roses.
Financial planning creates freedom. Freedom from worry. Freedom from undue pressure. Freedom from tracking what the market is doing. Yes, it does take some time up front. Yes, the strategy needs to be reviewed and monitored. Yes, there is an economic cost. But the value of time saved is priceless. The shaver, by the way, cost $90. The way I figure is that at a cost of $3.00/hour, its been a pretty good buy.
The information provided herein is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any federal tax penalties. Entities or persons distributing this information are not authorized to give tax or legal advice. Individuals are encouraged to seek specific advice from their personal tax or legal counsel.